Hummingbot Bi-weekly #34
Welcome to the Hummingbot Bi-weekly, your regular dose of updates about new features 🤖, upcoming events 🎉, and announcements from our rapidly expanding community 👪!
Hope this issue finds you and your ❤️loved ones safe and strong 💪.Subscribe to never miss any new issue.
🙋🏻♂️ Note from our CEO
I’m going to start sharing a brief note about what we’re working on at Hummingbot in these bi-weekly newsletters, as well as the principles that inform our work.
We live in a time where people everyone feel more disconnected than ever. As CEO of an open source project, I’m lucky to be able to chat with our users all day and every day, so I want to extend a bit of that connection to our broader community.
At Hummingbot, we think about lot about the tradeoffs of simplicity versus complexity. Algorithmic trading is inherently complex, so in order to fulfill our mission of democratizing algo trading, we have to make it simpler. However, trading is also a competitive sport, so if algo trading were so simple and easy that you could just push a button and let a bot handle everyone, competition would drive returns down to zero.
Therefore, we’ve designed Hummingbot to be simple/easy to get up and running, but we also try to give advanced users many different ways to adjust and control their bots. We are leaning into this approach and will be doing more to encourage experimentation and customization, which is why we’re introducing dynamic controls with the upcoming Scripts feature.
Finally, we’re tapping into the collective power of the Hummingbot community. I’m excited to unveil our Hummingbot public roadmap (see below) and will be taking a more active role in working with external developers to improve the open source codebase.
🛣️ Introducing the Hummingbot public roadmap
We’re excited to announce our new public roadmap for the open source Hummingbot client!
All issues in our Github repository are now categorized here and status of bugs and enhancements are tracked in real-time. If you create an Github, it will show here automatically.
We encourage contributions from our community! Many of you have already contributed exchange connectors, enhancements, and fixes, which are listed on our community contributions page.
📈 Liquidity mining: April recap
Within the first two months (March 3 through April 30) that liquidity mining has gone live, we have achieved some promising results showing that a community of liquidity miners can rival the capabilities of professional market makers. We cannot thank our community enough for participating in liquidity mining, providing feedback, supporting us, and spreading the word!
Below is a summary of some of the first two month's stats.
In the past two months, our miners have:
Filled $20 million of filled order volume (30% of total Binance trading volume for our sponsors)
Earned almost $25,000 in rewards. Each miner is earning $1.59 per day in rewards, while the top miner has earned over $3000.
📈 Top liquidity miner interview featuring Lorenzo Boyice
It has been just over two months since we launched Liquidity Mining. With heated competition, miners have been working very hard to rank higher on our leaderboard!
In this post, we introduce you to Lorenzo Boyice, fairly new to our community but already ranked into Weekly Top 10 for the past few weeks. He is a software engineer and started investing in crypto in late 2018/early 2019. With liquidity mining, his monthly return is around 3-5%.
🎒 FREE Liquidity Mining group training sessions
Our free training sessions have been well received by the community during the past few weeks, so we have decided to host more sessions to get users onboard. The detailed schedule is as below:
May 12: Basic
The basic training session will cover:
The basic concepts behind market making
How to install Hummingbot
Configuring a market making bot
Earning token rewards with Liquidity Mining
How to assess your bot’s performance and mining returns
May 19: Advanced
The Advanced training session will cover:
Using multiple orders with inventory skew
Using hanging orders mode
Ways to handle market volatility
Spots are limited for each training session, so RSVP today to reserve your preferred day and time!
🍿 Crypto snacks
A curated list of recently-published content about crypto trading, #DeFi, and other topics that might be interesting for Hummingbot users and developers
🥟 Adam Cochran of MetaCartel wrote a comprehensive analysis on the top 10,000 Ethereum addresses to learn about liquidity, profitability, market manipulation and what Whales are doing with their tokens.
🌯 Dmitriy Berenzon of Bollinger Investment shared a great overview on Constant Function Market Makers and the future directions of CFMM designs and use-cases.
💬 Get involved!